International Bancshares (NASDAQ:IBOC) Hits New 12-Month High at $56.89

Shares of International Bancshares Co. (NASDAQ:IBOC) hit a new 52-week high during trading on Wednesday . The stock traded as high as $56.89 and last traded at $56.68, with a volume of 31404 shares changing hands. The stock had previously closed at $55.65.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

International Bancshares Price Performance

The company has a market cap of $3.55 billion, a PE ratio of 8.41 and a beta of 0.94. The company’s 50-day simple moving average is $53.98 and its 200 day simple moving average is $51.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.70 and a current ratio of 0.70.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%.

Insider Transactions at International Bancshares

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $54.22, for a total value of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares of the company’s stock, valued at $71,149,923.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 14.45% of the company’s stock.

Institutional Investors Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in International Bancshares by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,373,927 shares of the bank’s stock valued at $276,246,000 after acquiring an additional 32,145 shares during the last quarter. North Reef Capital Management LP increased its stake in International Bancshares by 2.5% in the third quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock valued at $71,511,000 after purchasing an additional 39,938 shares during the period. Charles Schwab Investment Management Inc. increased its stake in International Bancshares by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,539,677 shares of the bank’s stock valued at $83,635,000 after purchasing an additional 29,818 shares during the period. Boston Trust Walden Corp increased its stake in International Bancshares by 77.2% in the fourth quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after purchasing an additional 444,674 shares during the period. Finally, First Trust Advisors LP increased its stake in International Bancshares by 26.4% in the fourth quarter. First Trust Advisors LP now owns 651,845 shares of the bank’s stock valued at $35,408,000 after purchasing an additional 136,043 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.